ForexTechnical Analysis

[FXGLORY]

Technical analysis of AUD/ NZD dated 19.03.2013

AUD/ NZD from the bottom price of 1.21378 had a strong ascending trend and could record the top price of 1.26733 during this ascend. As it is obvious in the picture below, the price by reaching to the descending trend line which is made of 4 top prices is not able to ascend more and has been stopped. By closing of the descending candle on 15th day in daily time frame, the price level of 1.26773 is fixed as a top price. Stoch indicator in daily time frame is in saturation buy area and according to the next cycle confirms the mentioned top price but because of not being in the same direction with other long term time frames is not reliable.In weekly and monthly time frames of this currency pair there is not a clear reason for descending of price and there is a potential for ascending in long term interval. The first sign for starting the descending trend and price reformation is, breaking of the supportive level of 1.25551 in this currency pair. Generally until the mentioned top price on descending trend line is preserved, the price has the potential for descending and downfall.

FxGlory
2013.03.19

 

[FXGLORY]

Technical analysis of EURCAD dated 22.03.2013

EUR/CAD during its ascending trend and reaching to the resistance line of ascending channel has been stopped and by recording a top price has prepared a field for price reformation and a downfall. Right now as it is obvious in the daily time frame , the price during the downfall from the mentioned top price and reaching to the supportive edge of ascending channel ( made of 3 bottom prices) has stopped and has recorded the bottom price of 1.31715. In weekly time frames of this currency pair there is not a clear reason for ascending of the price and the first warning for ascending of the price in long term interval is creating a bottom price in weekly time frame. The most important supportive level in front of price for preventing more downfalls is the ascending trend line and also the alterant level which is shown in the picture below.

According to this point( until the bottom price of 1.31715 is preserved ) in daily time frame of this currency pair , the 4th point on ascending trend line has formed and if the resistance level of 1.33014 breaks, there will be the possibility of ascending and increase of price in ascending channel.

FxGlory
2013.03.22

 

[FXGLORY]

Technical analysis of GBP/USD dated 25.03.2013

As it was mentioned in the previous analysis of this currency pair dated 13.03.2013 according to the formed signs in this price chart, there was the possibility of ascending of price which finally happened. Right now in daily time frame the price is closed above 5-day moving average and could record the top price of 1.52590. Also in weekly time frame the previous week candle was above 5-day moving average and Stoch indicator is in ascending cycle and warns the possibility of ascending of the price during the next weeks. As it is obvious in the picture below , the price has been stopped by reaching to the descending trend line ( made of 2 peak prices) during the ascending trend and has recorded the top price of 1.52590 that warns descending and reformation of the price during the next candles.

Right now according to the formed movements in the chart, there is an important Inverted head and shoulders pattern that warns changing price direction from descending to ascending trend. According to the point that in this pattern usually there is a short reverse to the Neck line; one of the possible targets of a downfall from the top price of 1.52590 can be the Neck line of this pattern. The first warning for starting and continuing the ascending trend is breaking of the descending trend line in this currency pair.

FxGlory
2013.03.25

 

[FXGLORY]

Technical analysis of EUR/AUD dated 26.03.2013

EUR/AUD during the recent weeks by breaking and crossing the ascending trend line (with 4 bottom prices) has experienced a strong descending trend and could record the bottom price of 1.22556. Right now in daily and weekly time frames, the price is under 5-day moving average that shows the strong descending trend and warns about more descending. As it is obvious in the picture below, the price is in descending channel and could touch the supportive edge of this channel. In 4H time frame, the formation of candles with small body and hammer candlestick pattern (shows stoppage of descending and indecision market) shows that most of the sellers use this supportive level for analyzing their trades.

Stoch indicator in 4H time frame is in saturation sell area and warns about price reformation according to the next cycle ( also it confirms hammer candlestick pattern). according to the selling pressure and strong descending trend in this currency pair, this signal does not have a high validity. If the bottom price of 1.22556 breaks, the price has the potential of reaching to the supportive range which is shown in the picture below. One of the important warning to end the descending trend and starting of the price reformation is formation of a bottom price and breaking of the descending channel in daily time frame.

FxGlory
2013.03.26

 

[FXGLORY]

Technical analysis of AUD/USD dated 27.03.2013

AUD/USD was in ascending trend from the bottom price of 1.01137 that during this ascending trend the buyers could record the top price of 1.04950. The price by reaching to the descending trend line (made of several peak prices) has been stopped from more ascending and right now is in the price reformation condition.In 4H time frame the top price of 1.04950 has been recorded and the Stoch indicator by being in a descending cycle confirms the mentioned top price but because of not being confirmed by the larger time frame, it does not have a high validity.

Right now the next important resistance level is the round level of 1.05000 that buyers tried to get this price yesterday at 5 PM and finally they were successful. Generally if this resistance level breaks, the price will find the potential for ascending and reaching to the resistance range which is shown in the picture below.In weekly time frame of this currency pair there is no clear reason for descending of the price and the price by being above the 5-day moving average and also ascending cycle of Stoch indicator warns about going forward to the resistance levels.One of the important warnings for starting the price downfall is breaking the ascending trend line (made of three bottom prices) in 4H time frame.

FxGlory
2013.03.27

 

[FXGLORY]

Technical analysis of NZD/CHF dated 28.03.2013

NZD/CHF during the recent days had an ascending trend that could record the top price of 0.79926. as it is obvious in the picture below, the price by reaching to the long term descending trend line ( made of 2 peak prices)dated back to the 2010 has been stopped and the buyers were unable to pass this resistance line.According to the formed movements in the price chart, between the bottom price of 0.76471 and the top price of 0.79926 there is an AB=CD harmonic pattern with the ideal ratios of 61.8 and 161.8 which the D point of this pattern is completed and warns about descending of the price in this price range. Stoch indicator in 4H time frame is in the saturation buy area and is in divergence mode with the price chart that warns about changing price direction.According to this point that in long term time frames, price is above 5-day moving average and there is not any clear reason for descending of the price, if the price level of 0.79926 and descending trend line breaks, the price will find a potential for going toward the targets such as the important round level of 0.80000 and 0.81329 level.

FxGlory
2013.03.28

 

[FXGLORY]

Technical analysis of Gold chart dated 29.03.2013


As it was mentioned in the previous technical analysis of Gold on 07.03.2013, according to the formed signs in the chart there was the possibility of price ascend that finally happened and it is still valid for this chart. The price has been stopped in its downfall by recording the bottom price of 1593.88. As it is obvious in the picture below, the price by reaching to the ascending trend line made of 7 peak prices has been stopped from more descending and the buyers are hopeful about ascending of price from this supportive level.Stoch indicator in 4H time frame is in saturation sell area and according to the next cycle confirms the created bottom price and warns about the possibility of price ascend. In case of ascending of the price, one of the buyers target will be the drawn resistance line. One of the important warnings is breaking the resistance level of 1616.74 for ascending of the price and leaving this range (which is the top price level in previous week).

FxGlory
2013.03.29

 

[FXGLORY]

Technical analysis of GBP/AUD dated 01.04.2013

GBP/AUD is in a long term descending trend that right now is in the lowest price levels during the recent 20 years. The price in this currency pair during the descending trend could record the bottom price of 1.43759. as it is obvious in the picture below, the price by reaching to the blue supportive level ( made of 2 bottom prices) has been stopped from more descending . In weekly time frame formation of candles with long lower shadow shows the sellers failure in reaching to the lower prices and warns about the potential for formation of a successful bottom price for increasing of the price.According to the formed movements in the price chart, between the top price of 1.61781 and the bottom price of 1.43759 there is an ideal harmonic pattern with the ratios of 78.6 and 127.2 that by completing the D point of this pattern, there is a warning for ascending of the price and changing price direction. Generally until the bottom price of 1.43759 is preserved, the price has the potential for ascending and changing price direction in this currency pair.

FxGlory
2013.04.01

 

[FXGLORY]

Technical analysis of EUR/USD dated 03.04.13

EUR/USD from 04.02.2013 was in a reforming and falling trend that could record the bottom price of 1.27505 during this descending trend. The price has been stopped during its descending trend by reaching to the supportive level (made of 2 bottom prices) and has made the bottom price of 1.27505 that provides the filed for stopping of the price downfall. In long term time frames such as weekly and monthly time frames, the price has closed under the 5-day moving average that shows a descending trend and generally there is no clear reason for ascending of price in long term intervals in this currency pair. As it is obvious in the picture below, in 4H time frame the price descends from the top price of 1.28771 that by reaching to the ascending trend line has stopped and has created a bottom price.

Stoch indicator in 4H time frame is in saturation sell area and according to the next cycle confirms the created bottom price and warns about the possibility of ascending of the price during the next candles. According to the next descending trend line, the first warning for changing trend direction and increasing of the price is breaking of this resistance line.

FxGlory
2013.04.03

 

[FXGLORY]

Technical analysis of EUR/NZD dated 04.04.2013


EUR/NZD was in a descending trend from the top price of 1.63538 that could record the bottom price of 1.51770. Right now this bottom price is fixed by the next ascending candles and is the next nearest supportive level. If this supportive level breaks , the price will have the potential of reaching to the important supportive level of 1.50000.as it is obvious in the picture below, the price in a descending channel during its descending trend that the supportive level of this channel prevent it from a downfall for several times and each time the price has ascended. According to the formed movements in the price chart, the price and RSI indicator are in divergence mode and warns about the potential of changing price direction in this currency pair.

In daily time frame there is a hammer candlestick pattern (also a Harami pattern) that shows the sellers retreat for reaching to the lower prices that it needs confirming with closing of an ascending candle. By breaking of the resistance level of 1.53747 and passing of it, there will be an important signal for changing price direction and the buyers will find more hope to control the market. Generally until the bottom price of 1.51770 is preserved, the price has the potential for reformation and ascending.

FxGlory
2013.04.04

 

[FXGLORY]

Technical analysis of USD/CAD dated 05.04.2013

USD/CAD during the ascending trend by reaching to the descending trend made of (2 peak prices) has been stopped from more ascend and by forming of a top price under this resistance line finally descend. Right now the price could record the bottom price of 1.01000 and as it is obvious in the picture below, this level is in alterant level (resistance to supportive) that prevent from more descending of the price. According to the formed movements in this price chart , between the top price of 1.3400 and the bottom price of 1.01000 there is an AB=CD harmonic pattern with the ideal ratios of 61.8 and 161.8 that by completing the D point of this pattern, there will be a warning for ascending of the price.In 4H time frame in the range of D point of harmonic pattern, there is a hammer candlestick pattern with long lower shadows that confirms this D point and possibility of formation of a bottom price in this chart. If the supportive level of 1.01000 breaks, the price will find the potential for reaching to the important supportive level of 1.00000.

FxGlory
2013.04.05

 

[FXGLORY]

Technical analysis of GBP/USD dated 08.04.2013

As it was mentioned in previous analysis of this currency pair dated 25.03.2013, according to the formed signs there was a potential for descending of the price and movement toward the Neck line in Inverted head and shoulders pattern that finally happened. As it is obvious in the picture below the price has an ascending trend and without reformation from the bottom price of 1.53617 that could record the top price of 1.53617 during this trend. The mentioned bottom price was created by reaching of price to the descending trend line (resistance to supportive property) and was the beginning of ascending trend.

Right now the price in 4H time frame by reaching to the resistance line of ascending channel has stopped and has created the top price of 1.5361 which is fixed by the descending candles. According to the long term time frames like weekly and monthly time frames, there is not any clear reason for descending of the price and the price in both time frames is closed above 5day moving average. This situation shows unstable reformation and descends in 4 H time frame. Generally until the top price of 1.53617 is preserved, the price has the potential for descending and reformation in this currency pair and by breaking this price level in 4H time frame, there is the possibility of more ascending of price ( according to the technical analysis of 13.03.2013).

FxGlory
2013.04.08

 

[FXGLORY]

Technical analysis of USD/JPY dated 09.04.2013

USD/JPY was in a strong ascending trend and without reformation that could record the top price of 99.618 which is the next nearest resistance level of this currency pair. According to the strong ascending trend and not having a clear technical reason for descending of the price in long term time frame, if the mentioned peak price breaks, the price will have the possibility of reaching to the important round level of 100.000 for the first target.In 4H time frame there is a Evening Star candlestick pattern (with 2 stars) on the peak price of 99.618 according to the type and formation of the price candles that shows the potential for formation of a successful top price and after that a downfall.As it is obvious in the picture below, between the bottom price of 90.871 and the top price of 99.618 there is AB=CD harmonic pattern with the Fibonacci ratios of 61.8 and161.8 (also The Three Drives Pattern harmonic pattern) that warns about descending of the price.RSI and stoch indicator are in saturation buy area and warn about the descending of the price according to the next cycle. Generally until the top price of 99.618 is preserved, there is the potential for reforming of the ascending trend in this currency pair.

FxGlory
2013.04.09

 

[FXGLORY]

Technical analysis of CAD/JPY dated 10.04.2013

CAD/JPY from the bottom price of 91.166 was in a strong ascending trend without reformation that could record the top price of 97.983. According the general ascending trend and not observing a clear technical reason for descending of price in long term time frames, if the price level of 97.983 breaks, the price will have the potential of reaching to the resistance range in this currency pair.To review trades with some buyers, the price has been stopped from more ascend which is shown by forming of the candles with small body (also candlestick pattern shows formation of a top price).

As it is obvious in the picture below, between the bottom price of 88.507 and the top price of 97.983 there is AB=CD harmonic pattern with the ratios of 50 to 200 that by completing the end point of this pattern, there will be a warning for forming of a top price.RSI indicator is in saturation buy area and that shows the possibility of having a top price and then a downfall. The first important warning for starting a reformation in ascending trend and falling of the price is breaking of the supportive level of 96.960 (the lowest changing price level on the previous day).

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FxGlory
2013.04.10

 

[FXGLORY]

Technical analysis of NZD/USD dated 15.04.2013

NZD/USD during the last week has experienced an ascending trend that could record the top price of 0.86754. As it is obvious in the picture below, the price is in an ascending trend and fluctuating in an ascending channel. The price during the ascending trend by reaching to the resistance line of ascending channel and also the Fibonacci level of 127.2 has been stopped from more ascend and started to reform the ascending trend.

Between the bottom price of 0.80492 and the top price of 0.86754, there is an AB=CD harmonic pattern with the ratios of 61.8 and 161.8 that warns about changing price direction. According to the formed movements in the chart, Stoch indicator is in saturation buy area and confirms the top price of 0.86754 by the next cycle and warns the possibility of descending of the price during the next days. In long term time frames such as weekly and monthly time frame, the price is above 5-day moving average and there is not any clear reason for descending of the price. If the price level of 0.86754, the price find the potential of reaching to highest historical level of 0.88422 this currency pair.

FxGlory
2013.04.15

 

[FXGLORY]

Technical analysis of USD/JPY dated 16.04.2013

As it was mentioned in the previous analysis of this currency pair dated 09.04.2013, according to the formed signs in the price chart, there was the potential for descending of the price that finally happened. The price during the downfall could record the bottom price of 95.806.right now in 4H time frame the mentioned price level is fixed by an ascending candle and act as a bottom price.According to descending of the price in last week, the previous week candle has appeared as a Shooting Star candlestick pattern that shows the buyers failure in reaching to the upper prices and vulnerability of ascending trend that will be fixed by closing of the descending candle at the end of this week. As it is obvious in weekly time frame, according to the formed price movements, there is an ideal Three Drives Pattern harmonic pattern that warns about changing price direction.

RSI indicator is in saturation buy area and it is in divergence mode with the price and confirms the Shooting Star candlestick pattern. The first warning for starting of a descending trend and decrease of price is breaking of the supportive level of 95.806. Generally according to the formed signs in the price chart until the resistance level of 100.000 is preserved, the price has the potential for reformation and descending in this currency pair.

FxGlory
2013.04.16

 

[FXGLORY]

Technical analysis of Gold dated 17.04.2013

Gold price has experienced a severe descending trend and could record the bottom price of 1320.30. This bottom price is fixed by the ascending candles in 4H time frame and is the most important supportive level in front of the price. As it is obvious in the picture below, the price has been stopped and formed a bottom price by reaching to the supportive edge of descending channel during the descending trend.Closing of descending candle of Spinning top pattern type in previous day shows indecision market for ascending or descending and the buyers doubt in reaching to the lower prices.
Also the combination of this pattern with the big descending candle on 15th day will create the Harami candle stick pattern that warns about formation of a bottom price and finally ascending of the price.

Between the top price of 1920.31 and the bottom price of 1320.30, there is AB=CD harmonic pattern with the ratios of 61.8 and 161.8 that from the D point of this pattern, there is the potential for ascending and price reformation.RSI indicator is in saturation sell area in daily time frame and also confirms the D point of harmonic pattern by the next cycle and warns about the possibility of changing price direction. Generally until the price level of 1320.30 is preserved, the price has the potential for reforming of the descending trend.

FxGlory
2013.04.17

 

[FXGLORY]

Technical analysis of GBP/USD dated 18.04.2013

As it was mentioned in the previous analysis of this currency pair dated 08.04.2013, according to the formed signs in the price chart, there was the potential for descending and reformation of the price that finally happened. As it is obvious in the picture below, the price is fluctuating in ascending channel and right now an ascending trend line prevent from more descending of the price. Price has been stopped during the recent descending and could record the bottom price of 1.52143 on supportive trend line which is shown in the picture below.

Right now this bottom price is fixed by an ascending candle and there is hammer candlestick pattern in this bottom price that shows the possibility of formation of a bottom price and then ascending of the price. According to the formed signs in the price chart between the top price of 1.54091 and the bottom price of 1.52143 there is an AB=CD harmonic pattern with the ideal ratios of 78.6 and 127.2 that from the D point of this pattern there will be a warning for changing price direction.

RSE indicator is in saturation sell area and warns about the possibility of ascending of the price according to the next cycle. Generally according to the formed signs, price is able to ascend from the mentioned bottom price and if the sellers succeed in breaking this supportive level, the price will have the potential to descend and reach to another supportive trend line.

FxGlory
2013.04.18

 

[FXGLORY]

Technical analysis of GBP/CHF dated 19.04.2013

As it is obvious in the below price chart, GBP/CHF from the top price of 1.44686 has descended and sellers could record the bottom price of 1.40727 that this supportive level is fixed in daily time frame ( by ascending candles) and acts as a bottom price. Price by reaching to the ascending trend line (made of 2 bottom price) was not able to descend and break it in daily time frame and by creating the hammer candlestick pattern on this line shows recessing of sellers in reaching to the lower price and also the supportive level of 1.40727.

According to the below picture, price by making the third bottom price of ascending trend line has started to ascend and is above 5-day moving average that warns about ascending of price during the next candles. Stoch indicator is in saturation sell area and in divergence mode with the price chart that warns about changing price direction. Right now the price by reaching to the red descending trend line has stopped from more ascend and generally by breaking this resistance line, first signal for increasing and more ascends of price will be issued.

FxGlory
2013.04.19

 

[FXGLORY]

Technical analysis of Silver dated 22.04.2013

Silver chart has experienced a strong descending trend during the recent week that could record the bottom price of 22.02. One of the sellers’ targets was the round level of 22.00 that they were successful in reaching to it and the price was not able to descend more by reaching to this level. Right now this price level is one of the important supportive levels in front of the price. According to the recent strong descending, price is in saturation sell area and there is the potential for ascending and price reformation.

According to the formed movements in the price chart, between the top price of 37.47 and the bottom price of 22.02 there is an ideal AB=CD harmonic pattern with the ratios of 78.6 and 127.2 that warns about changing price direction and price reformation. RSI indicator is in saturation sell area and confirms the D point of this pattern by the next cycle and warns about the potential of ascending of the price during the next days. Generally until the price level of 22.00 is preserved, the price has the potential for ascending and reformation.

FxGlory
2013.04.22